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Bank of America® Business Advantage Cash Rewards Mastercard®

by admin

Bank of America clients searching for a basic method to win money back on business buys can utilize the Bank of America® Business Advantage Cash Rewards Mastercard® to receive benefits on gas, office supplies, dining costs, and even specialty operational expense classifications like remote administrations and business counseling administrations. Bank of America has as of late become well known as one of the main backers to offer “pick your own classification” rewards structures. Bank of America® Business Advantage Cash Rewards Mastercard® Mastercard holders will win 3% money back in your preferred class from the accompanying six classifications:

  • Gas stations
  • Office supply stores
  • Travel
  • TV/telecom and wireless services
  • Office supply stores
  • Computer services or business consulting services

Best business card for cashback

    • Annual Fee:
      $0
    • Purchase Intro APR:
      0% for 9 billing cycles
    • Regular APR:
      14.49% – 24.49% Variable APR on purchases and balance transfers

ReviewBank of America has as of late become famous as one of the main backers to offer “pick your own classification” rewards structures. Bank of America® Business Advantage Cash Rewards Mastercard® charge cardholders will acquire 3% money back in your preferred class from the accompanying six classifications:

  • Gas stations
  • Office supply stores
  • Travel
  • TV/telecom and wireless services
  • Office supply stores
  • Computer services or business consulting services

You’ll additionally acquire 2% money back on eating, however, all reward classification winning tops in the wake of burning through $50,000 in those classifications each schedule year (you win 1% on every single other buy). With no yearly charge and a 0% offer on buys for 9 charging cycles (after which variable APR of 14.49% – 24.49% applies), it is anything but an awful decision in case you’re searching for effortlessness.

Individuals from Bank of America’s Preferred Rewards for the Business program can get an extra 25%-75% prize reward on most buys, which can without much of a stretch signify a sizeable reward consistently. Favored Rewards for Business individuals additionally approach a couple of additional advantages from Bank of America.

You don’t must have a formal business to have the option to receive the benefits of this card (or any business card so far as that is concerned), either. Specialists, advisors, or online vendors can likewise meet all requirements for a Business Visa, which causes you to keep your business and individual costs discrete.

The Business Advantage Cash Rewards card has a strong sign-up reward, enabling you to acquire a $300 explanation credit in the wake of burning through $3,000 inside the initial 90 days of opening your card.

Maybe the greatest burden to this card is the absence of reclamation adaptability. You can recover your money back simply after you collect $25 in remunerations, and your solitary alternatives are an announcement credit or an immediate store into a Bank of America® private venture checking or investment account. The top on how much 3% and 2% money back you can acquire is likewise a drawback to the card.

This card certainly isn’t as worthwhile as a portion of the other money back business cards available, however, it has a standout amongst other money back remunerations rates for gas buys and office supplies. On the off chance that those are the two classifications your independent venture spends the most in every year, this is certainly a card worth considering. Who should get this card entrepreneurs who spend the most on gas and additionally office supplies will appreciate the high rewards rate in those classes. This card gives a straightforward method to gain money back to bring down your month-to-month costs.

This card is additionally a pleasant choice on the off chance that you as of now use Bank of America charge cards or independent company checking or investment accounts. With direct store alternatives accessible for money back remunerations and joining with Bank of America’s versatile banking application, existing BofA clients may appreciate the straightforwardness of having the majority of their business accounts at a similar bank.

Advantages

  • The “choose your bonus category” rewards structure is relatively rare, providing cardholders with an added layer of customization.
  • $300 statement credit after spending $3,000 within the first 90 days.
  • No annual fee

Disadvantages

  • Inflexible redemption options for rewards.
  • $50,000 cap for each calendar year on combined 3% and 2% cash back categories (earn 1% cashback after).

Fees and APR

  • Enjoy a 0% introductory APR for nine billing cycles on purchases, after that a variable 14.49% – 24.49% APR will apply.
  • Pay no annual fee.
  • There’s a balance transfer fee of $10 or 4% of the amount of each transaction, whichever is greater.
  • This card has a 3% foreign transaction fee on purchases made outside the U.S.
  • Late payment is $19 if balance less than or equal to $100; $29 if $100.01 – $1,000; $39 if $1,000.01 – $5,000; $49 if greater than $5,000

Extras, perks, and using rewards you can start redeeming your cashback after earning at least $25 in rewards. You can redeem your rewards as a statement credit or a deposit in your Bank of America checking or savings account.

Additional employee cards are free.

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